Rumble Offers 2.0281 Shares per Northern Data Share, Secures 72% Commitments
Rumble launched an exchange offer on April 13, 2026 to acquire Northern Data shares, offering 2.0281 Rumble Class A shares per Northern Data share and securing commitments for 72% of outstanding shares. The tender period closes May 9, 2026 and the company will promptly delist Northern Data shares upon closing.
1. Exchange Offer Launch and Terms
On April 13, 2026, Rumble initiated an exchange offer to acquire all outstanding shares of Northern Data AG, with a tender period running through May 9, 2026. No minimum acceptance threshold applies and Rumble has secured commitments representing 72% of Northern Data’s shares.
2. Deal Terms and Shareholder Commitments
Under the offer, Northern Data shareholders will receive 2.0281 newly issued Rumble Class A common shares for each share tendered. Rumble’s Class A shares will trade on the Regulated Unofficial Market of the Frankfurt Stock Exchange, and fractional share settlement mechanisms will apply.
3. Strategic Rationale and Platform Integration
The combination unites Rumble’s video platform, media network and cloud services with Northern Data’s GPU assets and data center footprint. The merged entity aims to establish an integrated AI and cloud infrastructure platform with scale, technology depth and balance sheet strength to compete globally.
4. Tether Partnership and Financial Impact
Tether has invested $775 million in Rumble since February 2025 and committed an additional $100 million to the advertising business through November 2025. Upon closing, Tether plans to leverage Rumble’s GPU services for its AI division and collaborate on crypto and AI product offerings including Rumble Wallet.